Steel Mills
Ferriola Assured of Trump Support for Tariffs
Written by Sandy Williams
October 1, 2017
Steel tariffs are still likely from the Trump administration, said Nucor CEO and President John Ferriola. In an interview with Bloomberg, Ferriola said a White House official that regularly meets with the president told him that the topic is brought up by Trump several times a week.
Ferriola said he was told that two or three time a week Trump asks, “Where are my tariffs? What are we doing?”
The decision on the Section 232 investigation on steel imports is taking a back seat to tax reform , but Ferriola thinks actions on steel tariffs should run concurrent with the tax debates. The devastation caused by hurricanes in the Southeast “screams out” for the need for infrastructure improvements, said Ferriola.
Steel imports are up 24 percent year to date through August and imports from China have increased about 7 percent, according to the U.S. Census Bureau. Nucor guidance for third-quarter profit was blunted by the continued flood of imports, falling below analysts’ estimates.
“Since the signing back in April of the original 232 investigation, imports have risen sharply, anticipating action that would prevent them coming in the future,” Ferriola told Bloomberg. “So everyone wanted to get ahead of the mandates, and that’s been a problem for us.”
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Mills
ArcelorMittal posts solid results as commissioning of Calvert EAF begins
AM/NS Calvert has begun commissioning its new electric-arc furnace, with plans to reach its full annual run rate of 1.65 million short tons a year from now.
Tampa Steel Conference: Tanners on rising capacities and storms brewing across steel
There's a lot of production waiting to come online
USS idles “B” battery at Clairton following explosion
U.S. Steel has idled its "B" Battery at its Clairton Coke Works near Pittsburgh following a “release of excess pressure” inside a section of the battery on Feb. 5.
ArcelorMittal to start building Calvert NGO electrical steel line this year
ArcelorMittal announced on Thursday that it will begin the construction of its new $1.2-billion electrical steel mill in Alabama later this year. The steelmaker said it is proceeding with plans to build the new greenfield mill near its existing AM/NS joint venture in Calvert, Ala. The ArcelorMittal Calvert plant will have an annealing pickling line, […]
AISI: US steel shipments rise in December
Domestic steel shipments increased month over month and year on year in December, according to the latest data from the American Iron and Steel Institute (AISI). US steel mills shipped 7,145,016 short tons (st) in December, up 0.9% from 7,082,921 st in December 2023 and 6.6% higher than 6,702,557 st in November 2024. For the full-year […]